Collecting Evidence in a Fraud Examination. A fraud examiner was called into a businessbecause of a suspicion of fraud. An assistant manager in a bookstore is taking books off theshelf, bringing them to the return book area, completing a customer return form, and pocketing the money. This is done late in the day when few other employees are in the store and areinvolved in closing activities that occupy them in other areas.Required:a. What are the objectives of the fraud examiner in performing a fraud examination?b. What evidence could the fraud examiner obtain that would help reach the objectives ofthe audit?c. How should the fraud examiner handle the evidence obtained?
Collecting Evidence in a Fraud Examination. A fraud examiner was called into a businessbecause of a suspicion of fraud. An assistant manager in a bookstore is taking books off theshelf, bringing them to the return book area, completing a customer return form, and pocketing the money. This is done late in the day when few other employees are in the store and areinvolved in closing activities that occupy them in other areas.Required:a. What are the objectives of the fraud examiner in performing a fraud examination?b. What evidence could the fraud examiner obtain that would help reach the objectives ofthe audit?c. How should the fraud examiner handle the evidence obtained?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Collecting Evidence in a Fraud Examination. A fraud examiner was called into a business
because of a suspicion of fraud. An assistant manager in a bookstore is taking books off the
shelf, bringing them to the return book area, completing a customer return form, and pocketing the money. This is done late in the day when few other employees are in the store and are
involved in closing activities that occupy them in other areas.
Required:
a. What are the objectives of the fraud examiner in performing a fraud examination?
b. What evidence could the fraud examiner obtain that would help reach the objectives of
the audit?
c. How should the fraud examiner handle the evidence obtained?
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